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20121031
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prices have never shot higher than they have in california within the last week. in some places, the price is above five dollars a gallon. it's led the governor to take emergency action and california's senior senator to call for a federal investigation. in california, you might hesitate once you grab the handle of the gas pump. california often has some of the highest gasoline prices in the u.s. but this is off the charts. the nationwide average is $3.81 a gallon, but in california, it leaped to an average of $4.65. in san jose, it's $4.65 for regular, $4.85 for premium. but in la, regular is nudging $5 and premium is $5.29 a gallon. enough to make you put the handle back without filling up. california governor jerry brown ordered state regulators to allow refineries to produce more gasoline - even switching to winter blend, which can be made more easily than the less-polluting summer blend. in a letter to regulators, brown said, "if this situation continues, it may cause unacceptable price impacts for consumers and small businesses, significant economic disruption, and serious
in today's cover story, finally california gets a slight break at the gas pump. what drivers can expect. and, we'll get inside the brainstorming session of politicians who hope to revive the economy. what to watch in the stock market ahead of tonight's vice presidential debates. plus, will oscar buzz surrounding a new movie help put it at the top of the box office heap? and are traders hopping in the costco shopping cart? first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's thursday, october 11th. i'm angela miles. in today's first look: debate night as vice presidential candidates joe biden and paul ryan square off in primetime. yesteday turned into another downer for the market. alcoa and chevron weighed heavily on the dow. gold ended the session flat and oil dipped by nearly a dollar. and the winter heating outlook is in. following last year's warm winter, some americans will get a sticker shock this year, especially those using heating oil. those bills are projected to rise 20%. lately the hot m
in october. gas prices are nearing the boiling point in california, and congress may step in. gas prices hit a high of $4.70 a gallon in october. and have since dropped to $4.30. that's still nearly a dollar higher than last year. california's democratic senators have called for a federal investigation. they've been joined by republican senators from alaska and oklahoma who want congress to look into how regulations may have caused the spike. the number of foreclosures in the majority of the u.s. have fallen to levels not seen since 2007. realty trac tells reporters the worst is over for most of nation. however, foreclosures remain highest in sections of california, illinois, and florida. execs at top companies want a debt deal from congress to fix the nation's deficit. according to the wall street journal, an open letter to congress asks for members to use a mix of spending cuts and tax-revenue increases. the letter was signed by 87 heavy hitters including goldman sachs' lloyd blankfein, and j-p morgan's jamie dimon. it asks to follow the 2010 deficit reduction plan. the statement does no
as the company sold fewer cigarettes. an upcoming vote over food labeling in california has corporations shelling out big bucks. the golden state will vote on proposition 37 november 6th. the legislation determines whether food should carry a special label if it's genetically modified. according to the california "right-to- know campaign," food corporations are spending nearly a million dollars per day on advertising against the initiative. reports say support for the labels has dropped from 70% to under 50% in a matter of weeks. the class of 2011 is saddled with record debt in student loans. a new study by the institute for college access and success reports the average students owes $26,600, a 5% jump from 2010. student debt nationwide recently topped $1 trillion. while some question whether the price of a college eduction is worth it, studies show unemployment for young people without a college degree is twice as high and that college grads earn more. it's not good-bye, it's just "see you online." that's the case at newsweek, which announced this week it will move to an online-only format. the
says it will run out of money by the end of next month. gas prices in california edge up another penny or more around the state. tuesday's average for a gallon of unleaded reached $4.67. that's a state record, and the highest in the nation. analysts blame the spike on refinery disruptions and corrison in critical pipelines. senator barbara boxer is asking the justice department to look into whether refinery maintenance issues are being used as an excuse to drive up the price. honda is seizing the opportunity by offering $3,000 fuel debit cars with the purchase of its 2012 honda civic. the car runs on natural gas. the trick is finding pumps that offer natural gas. a political feud between china and japan is weighing on automakers. a drop in demand from china has affected production at toyota, honda and mazda in japan. all three automakers reported demand was down between 35 to 49 percent from the year before. china and japan have been locked in a territorial dispute since last month regarding a chain of islands between the two countries. since then, trade between china and japan has slo
, california, georgia and illionis. however, illinois is out with an innovative plan to keep people in their homes with a beneveolent hedge fund backed by the treasury that buys up deliquent loans. "we had our first couple of big purchases of loans. these are loans that are delinquent. we purchased them at a discount anywhere between 40 and 50 cents on the dollar. and, our intent is to take that 50 cents on the dollar savings, leverage it, modify the existing homeowners' mortage to a level they can afford and keep the homeonwer in the home." that was mary kenney of the illinois housing development authority. standard hedge funds foreclose on the homes and then sell the property. more americans are beginning their december holiday shopping in october. retailers have noticed this trend in the last few years. and as our cover story explains, one reason is that it helps consumers lessen the impact to their monthly budgets. in a poll by market research company ipsos commissioned by online coupon site retailmenot.com, 40% of americans surveyed start their december holiday shopping before
in california restaurants are taking corn off the menu and may soon serve smaller cuts of steak. popular chicken wing chain buffalo wild wings plans to pluck more from consumers by boosting menu prices 4%. gold miners in south africa have struck deeper into conflict. unions and top gold producers have failed in the latest attempt to reach a contract agreement. strikes reached a breaking point in august when police opened fire on protestors, killing 34 workers. currently there are no plans for further talks between unions and mining operations. the halt in production has affected the gold and plantinum markets. later this week nearly 200,000 government workers in the region also plan to strike over low wages. some musical notes now from microsoft. after its digital zune music player flopped, the tech company is offering music on its xbox 360 game consoles starting today. october 26th microsoft will offer music streaming on computers, tablets and smartphones that have windows 8 software. initially the music will be free. japanese telecomm company softbank is snapping up sprint nextel. softbank wi
they have started some support groups in california for people who deal with this. [laughs > > but it is something that is affecting, obviously, a lot of people, at least some of the effects of it. people are starting to just get really, really touchy and nervous if they can't have their phones with them. > > now there are some jobs where you absolutely need your phone for communication and other purposes. the idea wouldn't be to ban them then for people who have anything like this condition. > > right. definitely. any time you ban something, you're asking for trouble, because people are going to do it anyway. it's like you want to tell them to not do any shopping online right around the holidays. it's not going to happen. so, you need to have sort of a policy in place where people can understand when they can use their phones and when they can't, i think. > > could that be managed, actually? > > i think it can, because i think people are smart enough, and as long as you're reasonable, and you say, "okay, you can check your phone at certain times, or you can check your phon
, but that will thankfully spare california, which has seen its own disruptions of late. gas has been more thn $4 a gallon for months in the golden state after disruptions at several refineries. those in sacramento saw prices dip below $4 per gallon just this week, but the state's average is still at $4.13 per gallon. nationally, gas prices are down more than a dime since last week, with an average cost of $3.53 per gallon. will prices continue to drop or head higher from here? joining us now on set, beth mosher of aaa. good morning to you. good to have you back on the show. > > good morning. thank you. > > what are you anticipating in the wake of superstorm sandy? > > we think that we've already seen some production stop. there's about six refineries in the northeast region. two of them have shut down production. demand has certainly dropped off. but we think overall across the country we are going to continue to see these prices drop. > > we didn't see an immediate spike in gasoline prices. why was that? > > the northeast is really the consumer of gasoline as opposed to the producer, and some other hurr
to sell wine online. california wineries and amazon are reportedly working on a service that will ship wine directly to consumers. a lot of upside potential here as online wine purchases make up a mere 1% of wine sales in the u.s. the wall street journal says amazon will have the program running by the holidays. if you are happy and you know it, eventually you will be able to wag your tail. a new gadget called "shippo tail" was recently introduced at the tokyo games show. a clip-on headset and monitor reads your brain wave activity and heart rate, and when you are feeling good, your tail wags. still to come, is there a golden opportunity in the metals market? a trader's take is coming up. but first, our monthly check-up on small business. find out why new data is causing some disappointment. that's next, after this in-the-know message. o' every month we look at the surepayroll small business scorecard, and each month we're always waiting for a trend to lock in. the scorecard was just issued for september. michael alter is the president & ceo of surepayroll. in your polling of 40,000 bu
stores in california, connecticut, florida, illinois, massachusetts, new jersey, new york, pennsylvania and rhode island. the bookseller suggests customers should check for strange charges. store employees will now have to swipe the cards. a new study shows that highly- ranked hospitals make a big difference in patient care. dr. archelle georgiou has a check-up on the importance of choosing a doctor or a hospital. "people need to do their research before they are a patient, with respect to what doctor or hospital they select for their care. and that makes a difference because when you go to a highly-ranked hospital, a 5-star hospital for care, you have a 75% lower risk for death and a 61% lower risk for complication than if you go to a 1-star-ranked hospital. the study by health grades also shows sick patients are less likely to die in arizona, montana and colorado hospitals. alabama; washington, d.c.; and mississippi fared worst, according to the survey. monster beverage is defending its energy drinks and it's giving a boost to the stock. shares had been selling off this week on report
Search Results 0 to 10 of about 11